Data from PayProp’s latest report indicates how much different tenants across South Africa pay for rent as well has what the average rent is in all 9 provinces.
PayProp reported that in Q4 2021, more than a third of properties managed by its agencies across South Africa fell within the R5,000 – R7,500 and just over 20% within the R2,500 – R5,000 and R7,500 – R10,000 brackets, respectively.Rent in the Eastern Cape increased by 2.8% between Q4 2020 and Q4 2021, outperforming, as it did in Q1 and Q2, the national average .at the end of 2021 – the second lowest after the North West,” said PayProp.
Gauteng rent decreased by an even more considerable margin than the Free State, with a 2% year-on-year decrease in Q4 2021., said PayProp. This was still above the national average of R7,906. “Despite their higher-than-average incomes, Gauteng tenant’s expenditure on rent took up 28.6% of their salary,” PayProp said.Rent distribution across KwaZulu-Natal closely matched the national pattern in Q4, PayProp said.
Mpumalanga enjoyed the highest year-on-year growth of all nine provinces, with positive change in all four quarters.
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